HP to 'spinoff PC biz'
$10bn Autonomy buy rumored
Hewlett-Packard is planning to spinoff its PC business, according to Bloomberg.
An HP corporate spokesman declined to comment on the Bloomberg report, and neither would he reveal to us whether the news might be announced during the company's third-quarter earnings call, to be webcast at the close of US markets on Thursday.
Bloomberg also reported that the same "people familiar with the company's plans" said that HP would spend $10bn to acquire enterprise software company Autonomy, with which HP has had a partnership since 2007.
In its most-recent financial quarter, HP – the world's largest computer maker – earned $533m from its Personal Systems Group on revenues of $9.4bn. ®
After systematically destroying the most profitable bits of the companies they have taken over since they did the job on Compaq suddenly they are doing an about turn.
Whare's the brick wall to bang my head against? The ghost of Carly is on the move again.
Yeah I was a long term HP'er. Things went downhill ever since they took over Compaq. My small team made 50x our costs in profit (and increasing) but we were axed and escorted from the building with an hour of being told.
Now they go and sell their PC biz. Ironically on the same day that Lenovo are crowing over the success of their purchase of the the IBM PC Biz.
Hmmmm is there a pattern here? Do HP want Lenovo to buy their biz? Ha-ha.
Dell? don't make me laugh.
Then there is the doubtful future of Itanic?
This move seems even more crazy now that I think about it unless they want to sell the Printer biz as well and move into Consultancy. The same sector that they destroyed in Compaq and, well every other company they have taken over.
Focus on other products
Now maybe HP can spend some time figuring out how to make a decent, reliable laser printer again....
So HP has finally undone all the injuries of the past 10 years? Oy DEC I still miss the Alpha's. Fail - M&A is just money for lawyers and bankers.